A. H. Belo Corporation Announces Third Quarter 2017 Financial Results, Real Estate Sales, Special Dividend, Stock Repurchase Program and Voluntary Pension Contribution
Digital and marketing services revenue represented 39.3 percent of 2017 total advertising and marketing services revenue compared to 36.6 percent in 2016
Adjusted operating expense decreased $6.1 million, or 9.8 percent, in 2017 compared to 2016
Net income increased $3.1 million in 2017 compared to 2016
DALLAS - A. H. Belo Corporation (NYSE: AHC) today reported third quarter 2017 net income attributable to A. H. Belo Corporation (the “Company”) of $2.6 million, or $0.12 per fully diluted share. In the third quarter of 2016, the Company reported net loss attributable to A. H. Belo Corporation of $(0.5) million, or $(0.02) per share.
In the third quarter of 2017, on a non-GAAP basis, the Company reported operating income excluding certain items (“adjusted operating income”) of $4.2 million, an increase of $1.9 million, or 84.8 percent, when compared to adjusted operating income of $2.3 million reported in the third quarter of 2016.
Jim Moroney, chairman, president and Chief Executive Officer, said, “I am pleased that we continue to see excellent growth from our investment in DMV, which saw revenue growth of 20.3 percent compared to the third quarter of 2016. This quarter, we also made steady progress in building a base of paid digital subscribers which increased to 22,103 at the end of the third quarter, a gain of 1,833 subscribers, or 9.0 percent, on a sequential basis, over the total at the end of the second quarter. On a year-over-year basis, digital subscribers grew 9,158, or 70.7 percent, when compared to the total digital subscribers of 12,945 at the end of the third quarter 2016. These are the two most significant growth opportunities in our business and we will continue to drive investment in these areas for the balance of 2017 and into 2018.
“In the third quarter, we closed on the sale of one of our downtown Dallas parking lots